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May 12, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Pittsford, Business Loans > Canandaigua National Bank & Trust Pittsford Business Loans > Frozen Cakes, Pies, And Pastries Manufacturing Loan | ||||
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Rochester SBA Loans
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Canandaigua National Bank & Trust Gives SBA Loan to Frozen Cakes, Pies, And Pastries Manufacturing CompanyNew YorkSmall business loans are available to New York small business owners through the SBA. In this case, a New York bank provides the loan. By giving the right information to Canandaigua National Bank & Trust, this Rochester, New York business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FROZEN CAKES, PIES, AND PASTRIES MANUFACTURING SBA Loan Lender CANANDAIGUA NATIONAL BANK & TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 311813 - Frozen Cakes, Pies, and Pastries Manufacturing Loan Approval Date 8/22/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Canandaigua National Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Canandaigua National Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Obtaining Funding - Getting Venture Capital Small Business Banks in Pittsford, New York Where to Get an SBA Loan New York
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